Daily Digest

Daily Digest 9/1 - Paper Currency Giants and Gold Pigmies, What Is A Carbon Offset?

Saturday, September 1, 2012, 12:14 PM


Last Plea on School Loans: Proving a Hopeless Future (VeganD)

Before the mid-1970s, debtors were able to get rid of student loans in bankruptcy court just as they could credit card debt or auto loans. But after scattered reports of new doctors and lawyers filing for bankruptcy and wiping away their student debt, resentful members of Congress changed the law in 1976.

Ben Bernanke Fails To Move The Gold Market Lower (David B.)

Knowing the market is going to instantly be driven lower the moment the propaganda is released; the Bug Buyers gleefully await that instant drop in price – and then they start buying…big. At that point the battle is commenced. When the bankers’ propaganda reigns supreme, this buying is unable to reverse the downward move, merely abbreviate it. However, when the bankers’ propaganda is no longer of sufficient potency we see a much different picture – like today.

Paper Currency Giants and Gold Pigmies (Arthur Robey)

And if Jim Rickards is right, the world is at the beginning of the third global currency war in the last hundred years or so. It could mean that not only is it time to buy the euro, but being aware of currencies is more important than ever.

French Politics: A Return To Normality (jdargis)

The economic news has been glum. French GDP was flat in the second quarter, the third one without growth. Unemployment has increased to nearly 3m, its highest for 13 years. Many more firms, some of which kept plans on hold during the spring poll, have announced factory closures or job losses, including a chicken-processor in Brittany. Among the biggest blows was the news that Air France is cutting over 5,000 jobs and Peugeot, a carmaker, is closing its plant in Aulnay-sous-Bois with the loss of 3,000 jobs.

Nonaligned Nations Back Iran’s Nuclear Bid, but Not Syria (jdargis)

Nonetheless for Iran, the final result of the Nonaligned Movement’s meeting, the biggest international gathering in Iran since the 1979 Islamic Revolution, amounted to the strongest expression of support for Iran’s nuclear energy rights in its showdown with the West. The unanimous backing of the final document undercut the American argument that Iran was an isolated outlier nation.

Weapons Plant Security Issues Are Described in U.S. Audit (jdargis)

Internal communications at the weapons plant, Y-12, near Oak Ridge, Tenn., were generally so poor that security officers told the auditors that it was not unusual for roofers or utility repair personnel to show up unannounced, and that when they heard the trespassers banging on the exterior wall of the storage building with hammers, they assumed it was maintenance workers.


Alberta deficit set to triple on slumping oil prices (guardia)

When the Progressive Conservative government delivered its budget in advance of April’s provincial election, the projected deficit of $886-million for fiscal 2013 was based on an average private sector oil forecast of $99.38 (U.S.) per WTI barrel.

But during the first quarter, private sector analysts downgraded their original estimates to an average of $93.62 a barrel.


What Is A Carbon Offset? (jdargis)

When we exhale, we release carbon dioxide into the air around us. That carbon dioxide is naturally removed from the atmosphere by plants and the ocean in what is known as the carbon cycle. Since the beginning of the industrial revolution in the 1700s, human activities like burning coal and cutting down forests have thrown off the carbon cycle's delicate balance. With only 13 percent of emissions naturally sequestered in 2006, this is where carbon offsets come in.

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saxplayer00o1's picture
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Joined: Jul 30 2009
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Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Debt Slaves

My blood is stirred by the student loan problem.

There is something amiss with the Capitalist model. (In case you had not noticed.) I have fought for the Capitalist ideal and have been married to a Communist economist. She and I had many civilised discussions on the best economic model. We concluded that a blended economy served humanity the best.

It is argued that the debts must be repaid because the recipient of the education benefits from the education. But consider who benefits from a highly educated population. We all do. So we should all share the burden. Am I argueing for a free ride for turkeys? Dont be silly.

Relax man. Breath slowly. It is the Taxman's job to remove everyones discretionary income and distribute it to where it is needed.

The Communist wife noticed that be it a Capitalist or a Communist society, you had to get out of bed each morning and get to work.

Pure Capitalism does not lead inevitably to Freedom. Only the marriage of technology and energy can lead us there. As Asimov noted the only society that has ever been free is a slave owning society. Our new slaves must be machines.

Prof Steve Keen explores this model in his discussion on Podomatic. Money must serve us, and not the other way round. Ultimately we will get rid of the concept entirely.

saxplayer00o1's picture
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4298
Fed's Williams backs open-ended QE3, eyes $600 billion

Fed's Williams backs open-ended QE3, eyes $600 billion

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